Diversity, Equity, and Inclusion (DEI) have become essential pillars for organizations striving to foster an environment where every individual can thrive. Organizations today recognize the importance of DEI, turning to cutting-edge HR technology solutions to drive meaningful change and bolster efforts.
RedThread Research revealed that there’s a remarkable 87% growth in the market for DEI technology between 2019 and 2021. This shows that HR technology is a key driver for companies to advance their DEI efforts.
According to the Harvard Business Review, 85-97% of professionals heavily rely on intuition or subjective synthesis of information during the hiring process. Although intuition may appear to be a reliable tool for assessing applicants, it often contributes to the persisting lack of female representation for senior roles and perpetuates the gender pay gap due to unconscious bias.
HR technology helps reduce bias in the recruitment process by providing blind screening techniques that remove identifying information from applicants, such as name, gender, and age. Additionally, it uses diverse job boards and platforms, which attracts a more diverse pool of candidates. These platforms utilize gender-neutral language, inclusive messages, and diverse imagery to create an inclusive and welcoming environment for applicants.
Analyze Diversity Metrics
AI-powered HR and recruitment solutions address DEI issues by leveraging data-driven algorithms to ensure fair talent processes.
Applicant Tracking Software (ATS) is a recruitment solution designed to track and analyze diversity metrics throughout the hiring process. It helps identify potential biases in selection criteria and ensures equal opportunities for all applicants.
Training and Development
Businesses can provide e-learning platforms and tools to deliver diversity training to employees. These platforms can be personalized which allows employees to access training platforms at their own pace and learning style.
Additionally, such platforms help track employees’ performance which ensures equitable treatment and provides the right feedback.
Improve Inclusion and Belonging
HR technology improves company culture and employee engagement. It can facilitate regular pulse surveys, employee feedback mechanisms, and sentiment analysis tools to gather anonymous feedback from employees. The data can be analyzed to identify areas of concern and develop targeted initiatives to improve inclusion and belonging.
Pay Equity Analysis
DEI technology offers tools for enhancing pay practices and promoting transparency and equity within organizations. It identifies pay gaps based on gender, race, or other demographic factors, allowing HR teams to take necessary steps to address inequities and ensure fair compensation practices.
Additionally, utilizing DEI technology helps generate career progression charts for each role, providing employees with clear expectations and tangible goals for advancement.
Data Analytics and Reporting
Organizations can make data-driven decisions with the help of technology. They gain insights to improve their DEI efforts by creating diversity scorecards and generating report metrics such as employee attendance, turnover, and pay rates. Through monitoring these metrics, they can have an understanding of the impact of these policies on the employees and determine the underlying reason behind them.
Leveraging insights provided by HR technology helps organizations make informed decisions, set goals, and drive positive change to foster a more diverse and inclusive workplace.